U.S. budget deficit balloons to $739 billion despite tariff revenue

[Conservative]

exoplanet;1070213831]Because the amount of wealth concentrated in the lowest 44% is less than 1% of the wealth in the US!! Considering that food, rent and health care take up the vast majority of their expenses, how much money could you possibly generate?

So what?? The U.S. economy isn't finite and continues to grow, why aren't you getting your share and how does increasing taxes impact wealth creation and reduce the inequality?

That depends upon which state it is. For some states, reliance on Federal aid is very substantial - the biggest are usually red states (Mississippi, Lousiana, Montana, Kentucky, etc...)

Reliance is a word that needs to be defined. If the federal gov't offers assistance a state is going to take it, reduce taxes and reduce assistance and then you will see if your point is valid

I could be in favor of term limits, but I think it needs to go hand in hand with a number of ethics improvements that would avoid just churning a whole slew of lobbyists furthering croney capitalism.

You have been indoctrinated well by bureaucrats that want more dollars to buy more votes. You do realize that Democrats receive lobbyists support just like Republicans?

LOL. How much revenue do you think the Trump tax cuts have "generated"?

Why does it matter, 3.2% GDP growth and 2 trillion in GDP dollar growth looks pretty good to me. This isn't even an issue except to class envy individuals.

 

[exoplanet]

So what?? The U.S. economy isn't finite and continues to grow, why aren't you getting your share and how does increasing taxes impact wealth creation and reduce the inequality?

So that's why I'm not worried about taxing the 44%. Sorry if you weren't interested me answering your question. LOL

Reliance is a word that needs to be defined. If the federal gov't offers assistance a state is going to take it, reduce taxes and reduce assistance and then you will see if your point is valid

You've conjured up a hypothetical here which is completely uninformative.

You have been indoctrinated well by bureaucrats that want more dollars to buy more votes. You do realize that Democrats receive lobbyists support just like Republicans?

Of course they do. I vote for the least objectionable slime that can win. If I'd voted for Trump/Republicans because I thought he'd get rid of Obamacare and reduce the deficit, I'd be seriously disappointed at this point.

Why does it matter, 3.2% GDP growth and 2 trillion in GDP dollar growth looks pretty good to me. This isn't even an issue except to class envy individuals.

Well, if you don't want to support your contentions about tax cuts leading to revenue growth, I can't make you.

 

[Conservative]

So that's why I'm not worried about taxing the 44%. Sorry if you weren't interested me answering your question. LOL

You've conjured up a hypothetical here which is completely uninformative.

Of course they do. I vote for the least objectionable slime that can win. If I'd voted for Trump/Republicans because I thought he'd get rid of Obamacare and reduce the deficit, I'd be seriously disappointed at this point.

Well, if you don't want to support your contentions about tax cuts leading to revenue growth, I can't make you.

Seriously disappointed in the following? Are your standards this high with a Democrat in the WH??

1. GDP Growth 2013 to 2018

2013 16784.9
2014 17521.7 736.8
2015 18129.3 607.6
2016 18707.2 577.9
2017 19485.4 778.2
2018 20494.1 1008.7

2016 GDP growth 1.6% annual vs 2.9% 2018 with those terrible tax cuts, 3.2% January thru March 2019

Unemployment Rate 4.7% January 2017 vs. 3.6% today

Employed 152 million January 2017 to 157 million today

U-6 in January 2017 9.3% vs 7.3% today?

Part time for economic reasons, 5.7 million January 2017 vs. 4.6 million today?

African American unemployment 7.7% vs. 6.7% today?

Remember those wonderful Obama years leaving Trump with a 1.6% GDP growth, declining GDP dollars and let's not forget adding 9.3 trillion to the debt with much of that gov't spending in those GDP numbers

Then let's not forget the gloom and doom predictions by the left and the April results
U.S. employers added 263,000 jobs in April again beating Wall Street's expectations and the 3,2% GDP Growth in the first qtr. Of 2019, likely quelling some fears about an impending economic slowdown.


As for revenue growth, nothing I say is going to ever get you to go to Treasury to see the actual data as you are always going to buy what the left tells you. Reality is there has been revenue growth and that defies liberal logic

 

[Rogue Valley]

The Trump economic record today.....

Tax cuts for wealthy individuals and corporations.

The federal deficit is at a historic high

The federal debt is at a historic high.

The US trade deficit is at a historic high despite Trumps tariffs.

Trumps tariffs currently cost Americans about $800 per household.

Trumps steel tariffs cost US consumers ~$900,000 for every job created.

‘Catastrophic,’ ‘Cataclysmic’: Trump’s Tariff Threat Has Retailers Sounding Alarm

 

[iguanaman]

Clinton didn't cut the budget. To his credit, he accepted cuts handed to him by a conservative congress. Last year's congress handed Trump a big spending increase to appease congressional Democrats.

LOL Except the Democrats refused to spend billions more on the wall and Trump shut down the Govt. until he found other ways to get the money. Yes the Dems refused to cut spending on entitlements to pay for the fat cats tax cut.

 

[Bullseye]

LOL Except the Democrats refused to spend billions more on the wall and Trump shut down the Govt. until he found other ways to get the money. Yes the Dems refused to cut spending on entitlements to pay for the fat cats tax cut.

Never were any "fat cat tax cuts". There were "tax cuts for everybody (almost)".

 

[exoplanet]

Seriously disappointed in the following? Are your standards this high with a Democrat in the WH??

1. GDP Growth 2013 to 2018

2013 16784.9
2014 17521.7 736.8
2015 18129.3 607.6
2016 18707.2 577.9
2017 19485.4 778.2
2018 20494.1 1008.7

2016 GDP growth 1.6% annual vs 2.9% 2018 with those terrible tax cuts, 3.2% January thru March 2019

Unemployment Rate 4.7% January 2017 vs. 3.6% today

Employed 152 million January 2017 to 157 million today

U-6 in January 2017 9.3% vs 7.3% today?

Part time for economic reasons, 5.7 million January 2017 vs. 4.6 million today?

African American unemployment 7.7% vs. 6.7% today?

Remember those wonderful Obama years leaving Trump with a 1.6% GDP growth, declining GDP dollars and let's not forget adding 9.3 trillion to the debt with much of that gov't spending in those GDP numbers

Then let's not forget the gloom and doom predictions by the left and the April results
U.S. employers added 263,000 jobs in April again beating Wall Street's expectations and the 3,2% GDP Growth in the first qtr. Of 2019, likely quelling some fears about an impending economic slowdown.

Welp apparently, those weren't your reasons for voting for Trump.

As for revenue growth, nothing I say is going to ever get you to go to Treasury to see the actual data as you are always going to buy what the left tells you. Reality is there has been revenue growth and that defies liberal logic

Ok, so you aren't interested in supporting your statements, but you do want to make sure to be insulting while copping out. Cool.

 

[iguanaman]

Seriously disappointed in the following? Are your standards this high with a Democrat in the WH??

1. GDP Growth 2013 to 2018

2013 16784.9
2014 17521.7 736.8
2015 18129.3 607.6
2016 18707.2 577.9
2017 19485.4 778.2
2018 20494.1 1008.7

2016 GDP growth 1.6% annual vs 2.9% 2018 with those terrible tax cuts, 3.2% January thru March 2019

Unemployment Rate 4.7% January 2017 vs. 3.6% today

Employed 152 million January 2017 to 157 million today

U-6 in January 2017 9.3% vs 7.3% today?

Part time for economic reasons, 5.7 million January 2017 vs. 4.6 million today?

African American unemployment 7.7% vs. 6.7% today?

Remember those wonderful Obama years leaving Trump with a 1.6% GDP growth, declining GDP dollars and let's not forget adding 9.3 trillion to the debt with much of that gov't spending in those GDP numbers

Then let's not forget the gloom and doom predictions by the left and the April results
U.S. employers added 263,000 jobs in April again beating Wall Street's expectations and the 3,2% GDP Growth in the first qtr. Of 2019, likely quelling some fears about an impending economic slowdown.


As for revenue growth, nothing I say is going to ever get you to go to Treasury to see the actual data as you are always going to buy what the left tells you. Reality is there has been revenue growth and that defies liberal logic

What your "logic" refuses to see is that these rising and record deficits in a healthy economy is unprecedented, dangerous and stupid.

 

[marke]

LOL Except the Democrats refused to spend billions more on the wall and Trump shut down the Govt. until he found other ways to get the money. Yes the Dems refused to cut spending on entitlements to pay for the fat cats tax cut.

The 'rich' were paying more than 90% of their incomes under democrat Carter. The economy struggled because there was not enough money left to investors to start or expand businesses. Republican Reagan fixed that mess when he took over, thank God.

The economy struggled for 8 years under Obama who stubbornly stuck to his stupid anti-business guns while blaming others for his failures, but it took Trump fewer than 8 days to get things moving again after Obama and his handbag of lame excuses were taken out of the way.

 

[iguanaman]

Never were any "fat cat tax cuts". There were "tax cuts for everybody (almost)".

Not the permanent ones, by 2027 83% of the cuts go to the 1%.

One might argue the Republicans practically wrote this talking point themselves by constructing the legislation this way. The Tax Policy Center and other groups that analyze such legislation had to provide the relevant figures for 2027.

“The effect of turning off those individual income tax cuts would be dramatic,” TPC senior fellow Howard Gleckman wrote. “Households making less than $155,000 in 2027 would get no tax cut at all, on average. And more than half of all households would pay more in taxes than under the pre-TCJA, mostly because the new law permanently shifts to a less generous method for indexing the tax code for inflation. As a result, nearly 83 percent of all the benefits of the TCJA in 2027 would go to the top 1 percent of households.”

A spokesperson for the Democratic minority on the Senate Finance Committee told us that this statistic is “a key data point to our argument that Republicans’ tax law is an economic double standard. … The fact is, Republicans chose to make permanent massive tax cuts for multinational corporations while writing tax cuts for middle class families in disappearing ink.”

 

[iguanaman]

The 'rich' were paying more than 90% of their incomes under democrat Carter. The economy struggled because there was not enough money left to investors to start or expand businesses. Republican Reagan fixed that mess when he took over, thank God.

The economy struggled for 8 years under Obama who stubbornly stuck to his stupid anti-business guns while blaming others for his failures, but it took Trump fewer than 8 days to get things moving again after Obama and his handbag of lame excuses were taken out of the way.

NO Very few were paying the top rate because they were not taking incomes that high. How stupid do you think they were? Investments in your business are tax deductible so they were not effected by high tax rates. If anything they were more attractive than paying 90%. Carter's economy was deeply effected by OPEC's tripling of oil prices and its effect was inflation rippling through everything. The FED then raised interest rates thru the roof killing GDP growth. Still Carter had more jobs created than Reagan did in either of his terms.

Trump Economy Lags Clinton's, Obama's, Reagan's and Even Carter's - Bloomberg

 

[Conservative]

Welp apparently, those weren't your reasons for voting for Trump.
Ok, so you aren't interested in supporting your statements, but you do want to make sure to be insulting while copping out. Cool.

I chose wisely and am getting exactly the results I had hoped for, Hillary was unqualified and never a viable option just like none of the Democratic Candidates for the future. As for revenue information that can be obtained from Treasury at bea.gov. I am not your assistant and stand by my claim and that claim is supported by Treasury data. Not sure what you want me to support as I don't have to do so, Treasury does

 

[George50]

Seriously disappointed in the following? Are your standards this high with a Democrat in the WH??

1.GDP Growth 2013 to 2018

2013 16784.9
2014 17521.7 736.8
2015 18129.3 607.6
2016 18707.2 577.9
2017 19485.4 778.2
2018 20494.1 1008.7

2016 GDP growth 1.6% annual vs 2.9% 2018 with those terrible tax cuts, 3.2% January thru March 2019

Unemployment Rate 4.7% January 2017 vs. 3.6% today

Employed 152 million January 2017 to 157 million today

U-6 in January 2017 9.3% vs 7.3% today?

Part time for economic reasons, 5.7 million January 2017 vs. 4.6 million today?

African American unemployment 7.7% vs. 6.7% today?

Remember those wonderful Obama years leaving Trump with a 1.6% GDP growth, declining GDP dollars and let's not forget adding 9.3 trillion to the debt with much of that gov't spending in those GDP numbers

Then let's not forget the gloom and doom predictions by the left and the April results
U.S. employers added 263,000 jobs in April again beating Wall Street's expectations and the 3,2% GDP Growth in the first qtr. Of 2019, likely quelling some fears about an impending economic slowdown.


As for revenue growth, nothing I say is going to ever get you to go to Treasury to see the actual data as you are always going to buy what the left tells you. Reality is there has been revenue growth and that defies liberal logic

2018 GDP growth = 2.9%, same as 2015. Obama second term average monthly job growth = 217,000, 2019 to date = 164,000. 2018 stock market was the worst since 2008, worse than any Obama year. The deficit was cut in half during Obama's term, it's already doubled during Trump's and during good times when we should be headed towards or already running a surplus.

Sent from my LM-G710 using Tapatalk

 

[Perotista]

I stopped reading at the first few sentences of the first paragraph. First of all, the dems have only been back in power for a few months, and only in the house. The GOP criminals have and will continue to block everything the dems have tried and will try to do. You know this, so please don't come to me pointing any fingers. Doing so just shows ignorance and stupidity.

LOL, okay. History is a mother when it comes to both parties running up the debt isn't it. Ignore if you wish, you're right.

 

[BitterPill]

The 'rich' were paying more than 90% of their incomes under democrat Carter. The economy struggled because there was not enough money left to investors to start or expand businesses. Republican Reagan fixed that mess when he took over, thank God.

The economy struggled for 8 years under Obama who stubbornly stuck to his stupid anti-business guns while blaming others for his failures, but it took Trump fewer than 8 days to get things moving again after Obama and his handbag of lame excuses were taken out of the way.

That lie is even difficult for an avid and uncompromising Great Trump supporter like me to swallow.

Spoiler

Just kidding!

 

[exoplanet]

I chose wisely and am getting exactly the results I had hoped for, Hillary was unqualified and never a viable option just like none of the Democratic Candidates for the future. As for revenue information that can be obtained from Treasury at bea.gov. I am not your assistant and stand by my claim and that claim is supported by Treasury data. Not sure what you want me to support as I don't have to do so, Treasury does

Wow, what a burden that you might be asked to present proof on a debate site! LOL

The BEA is part of the Department of Commerce not the Treasury and if there is any proof for your claims there, it is certainly not obvious.

 

[Conservative]

What your "logic" refuses to see is that these rising and record deficits in a healthy economy is unprecedented, dangerous and stupid.

Rising and record revenue in the states and local communities still hasn't resonated with you and the left or even the Congress in cutting expenses. It continues to be more important for people like you to see the gov't revenue rising vs. the taxpayers personal take home pay. Also regarding those so called rising deficits still waiting for proof that it was due to Trump spending??

By the way, great seeing your governor take action outlawing sanctuary cities!!

 

[Conservative]

Wow, what a burden that you might be asked to present proof on a debate site! LOL

The BEA is part of the Department of Commerce not the Treasury and if there is any proof for your claims there, it is certainly not obvious.

Then you have no idea where to research the data at bea.gov because revenue is UP and continues to grow

 

[Conservative]

2018 GDP growth = 2.9%, same as 2015. Obama second term average monthly job growth = 217,000, 2019 to date = 164,000. 2018 stock market was the worst since 2008, worse than any Obama year. The deficit was cut in half during Obama's term, it's already doubled during Trump's and during good times when we should be headed towards or already running a surplus.

Sent from my LM-G710 using Tapatalk

I am done responding to people like you who continue to want to prop up failure. I thank Obama for giving us Trump!! Deficits don't matter, debt does, and Obama added more debt than Reagan, GHW and GW Bus combined

 

[exoplanet]

Then you have no idea where to research the data at bea.gov because revenue is UP and continues to grow

Revenue can go up and down independently of tax breaks. You don't even know what constitutes evidence for your claims.

 

[dcsports]

LOL Except the Democrats refused to spend billions more on the wall and Trump shut down the Govt. until he found other ways to get the money. Yes the Dems refused to cut spending on entitlements to pay for the fat cats tax cut.

Not quite. They refused to spend a few billion on the wall, and added hundreds of billions in spending for other things.

 

[Conservative]

Revenue can go up and down independently of tax breaks. You don't even know what constitutes evidence for your claims.

GDP Revenue will always go up when people spend more money, learn the components of GDP

 

[RedAkston]

Topic is trump's out of control spending....Not President Obama...You trump lovers No doubt will blame Hillary next

So you were OK with Obama's out of control spending but now all of a sudden you're not OK with out of control spending when it's Trump? Your lack of ethics and anything resembling morals is showing. Either out of control spending is wrong or it's not. It doesn't matter who sits in the White House.

 

[lurchadams]

LOL, post the Treasury data supporting your claim, second most debt?? Still waiting for documented proof that debt was caused by Trump spending. You have nothing and keep making a fool of yourself by posting nothing but left wing opinions. FACT, 2018 was Trump's first year and the deficit was 17% higher ALL DUE TO MANDATORY SPENDING ON SS/MEDICARE/INTEREST EXPENSE. All I see is class envy, jealousy and promotion of a bigger more controlling federal gov't.

The only people making fools of themselves are those like you who claim trump or his merry band of 'ner do wells either care or know anything about how to stimulate a nation's economy.

Keep carrying that water for the trump clown car, my friend. It's an idiotic endeavor.

 

[exoplanet]

GDP Revenue will always go up when people spend more money, learn the components of GDP

Nothing about that statement quantifies the impact of the tax cuts on the GDP and therefore tax revenue. But that's what you've been avoiding all along isn't it? Assuming your evidence exists, it would've been much quicker to post a link than to repeatedly post vaguely related rambling and cop outs.